Producers of metals and other raw materials processors fell as the dollar strengthened against other currencies.
The value of dollar-denominated commodities have a relatively strong inverse relationship with the greenback, and the recent surge of a dollar index to the highest level of the year has weighed on prices of gold, copper and others. Gold futures ticked down to around $1780 an ounce, and are now 10% below their 2020 record highs.
Shares of Canadian-based miner Lundin Mining tumbled after brokerage BMO warned the company will likely face near-term challenges.
Australian steelmaker BlueScope Steel reported growth in fiscal year profit and said it would raise its dividend and buy back shares as it benefits from strong steel demand and prices.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-19-21 1633ET
